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POLICY ON TAX ABATEMENT INCENTIVES FOR <br />THE CITY OF SAN MARCOS, TEXAS <br />Section A. Purpose. <br />The City of San Marcos is committed to the promotion of quality development in <br />all parts of the City and to improving the quality of life for its citizens. In order to help <br />meet these goals, the City of San Marcos will consider providing tax abatement <br />incentives to stimulate economic development in reinvestment zones within the City of <br />San Marcos. It is the policy of the City of San Marcos that such incentives will be <br />provided to appropriate businesses in accord with the procedures and criteria outlined in <br />this document. However, nothing in this policy shall imply or suggest, or be construed to <br />imply or suggest, that the City of San Marcos is under any obligation to provide any <br />incentive to any applicant; all such applicants for tax abatement incentives shall be <br />considered on an individual basis. <br />Section B. Economic Qualifications for Tax Abatement. <br />1. Economic Qualifications. In order for the owner of property within a <br />reinvestment zone to be eligible to receive a tax abatement incentive, the <br />planned project must provide for improvements to real property and /or <br />investment in. personal property, including new facilities and structures and <br />expansion or modernization of existing facilities and structures, having a total <br />capital investment of at least $2,000,000.00, and must benefit the city in at <br />least two of the following five categories: <br />a. Primary and non - primary jobs; <br />b. Sales tax generation; <br />c. Employee payroll creation and value of benefits provided; <br />d. Diversity in the economic base; or <br />e. Synergy for additional economic development and/or intangible <br />benefits to the City, such as, but not limited to, projects that are unique <br />regional economic draws, incorporate design or construction features <br />that exceed City regulations, or make a unique contribution to <br />redevelopment or development efforts. <br />The planned project will be awarded points for the categories above to <br />determine whether or not it is eligible for consideration for abatement and <br />what amount of abatement or incentive is available. The criteria for awarding <br />points and the various levels of tax abatement available are shown in <br />